Why "Wrapping It Up" Changes Everything

The “Wrap It Up” Catchphrase

SPEAKER_00 0:00

It's the catchphrase of many of the high producing agents of Imperial Real Estate Agency in New Jersey. It goes like this, but watch out, it's very catchy. It goes, just wrap it up. Come on, Mike, let's wrap it up. Whether you're standing in the middle of a street corner and negotiating an actual offer with a buyer, or you're actually sitting in a lawyer's office ready for the title company to rip the checks, people say, just wrap it up. Come on, wrap it up. It's kind of light, it's a way of creating urgency. As if to say it's not a big deal to sell this 40-unit building. Let's just wrap it up, put the offer in, let's get it going. It's great salesmanship by many of

Why A Deal Falls Apart

SPEAKER_00 0:42

the agents. But it came to mind because my sales coach, the great Mr. Spira, he was encouraging me and rebuking me at the same time as I was I was dealing with different letters of intent from different buyers, trying to figure out which buyer had better terms. But before there was any sort of purchase of sale agreement, I didn't wrap it up. I was negotiating terms. And I learned my lesson that when you're still negotiating terms with a letter of intent, there are multiple issues that will stand in the way between their letter of intent of the wishing and the intention to buy it and actually having a contract. So if you don't wrap it up, you could get messed up by better offers. Other buyers can swoop in. If you only have a letter of intent, you haven't locked up the deal. If you haven't wrapped the deal up, attorneys can argue over the finer points in a deal. There could be discrepancies in between the loan to value rate of the loan from the lender. There could be phase one environmental issues that botch up the deal. There could be a cloudy title. There could be zoning variances and discrepancies between the T12 and the rent roll. All of these issues come up when you haven't wrap it up. You haven't wrapped it up, but you're still standing in the intention L O I phases. This is a perfect mushle. The segue from real estate here is because

Turning Real Estate Into A Lesson

SPEAKER_00 2:03

it's a perfect mushle to understand the mentality and the urgency that Ramchal wants from us when it comes to Zerizos and locking up mitzvos. Listen to what he says, and you can only really, or not only, but it really hits when you think about this in regards to wrapping up a deal. He's talking about zerizos. Alacrity in chapter 7. He's saying you should run after mitzvah. There's zorizos before an action, and there's reasons after an action. What do you do to have zerizos? Don't let your mitzvah become chumit. Ella Behagiasman o i

The Danger Of Waiting To Act

SPEAKER_00 2:35

bezdanala fun of balos mach shafto. You have in mind. You're gonna bake khalla for the family. You have in mind that you're going to start this large initiative. Go sprinting to grab it. Grab it and arm it. Bring it in close and do it. Don't let there be time. Don't let there be milliseconds in between your LOI and your PSA. Your purchase of sale agreement. Why? There is no danger, like the danger and the threat of a mitzvah, of a deal that's left in just the intention phases. Every second that passes, Yukal Ishadesh eza ikovla mysaihatov, some sort of impediment could come. Like a poor LTV loan to value ratio or rent roll and T12 discrepancy and rip up and destroy your good intention. So you gotta wrap it up. You gotta wrap it up. This

A Story About Getting It Done

SPEAKER_00 3:45

is what you know the great Rabbi Wallerstein said. You gotta wrap up your mitzvah. He said when he was asked about how he launched this incredible Orinava organization, they asked him how he did it. He said, I wasn't the one to think of it. Many people have had this great lofty goal of starting organization that does as much as his organization did and continues to do, but he said I was just one who actually did it. He said it with his classic witty but direct line. I just actually took the LOI and actually wrapped it up and did it. There is no sakana. There is no sakana. There is no danger like the time between your good thoughts, your big aspirations, your huge goals, and actually getting them accomplished. Because every single second, something could happen. Someone could swoop in and do it instead of you. And you'll be left there barren without any deal, without any opportunity. And all you have is your intent in your hand, which doesn't amount to all that much.

Wrap Up The Goal Today

SPEAKER_00 4:43

Wrap it up, folks. Those big aspirations, you have that goal that you have, wrap it up. That Ahraias, that his chaivas, that toira, that mitzvah, wrap it up, wrap it up. That's the way to have this resus. And you're avoided as Hashem. When you look at your Rukhnius in a very real way through the eyes of someone who sees the Rukhnius world.